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20110701
20110731
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, reduced spending on the wars in afghanistan and iraq and through targeted cuts to mandatory spending. it doesn't raise taxes and it doesn't touch medicare, medicaid or social security. again, this is not a perfect plan. i have been on the floor many times in favor of a balanced package that includes cuts to spending, domestic, defense and mandatory, but also includes increased revenues. the reid princess plan doesn't e those goals -- the reid plan doesn't achieve those goals but i hope we will get there eventually. this is not a proposal i would have written, but i'm one of more than 100 members of the senate and more than 535 members of congress, and i don't get everything i want. none of us here in congress get everything we want. that's the nature of compromise. that's the nature of democracy, and that's why the framers of the constitution created checks and balances in government. that's why they created two chambers in congress and three branches of government, and when you're a leader in government, you just don't have the luxury of drawing a line in the sand and walking away.
wars in iraq and afghanistan and participate in the nato exercise in libya. that's pretty expensive undertaking. we know that that has gone up 84%, military spending, in the last ten years, gone up 84%. we know at the same period of time that spending on mandatory programs -- that would be like social security, medicare, medicaid, agriculture payments, veterans payments. spending for those payments over the last ten years has gone up 32%. and we know that the rest of the budget, the so-called domestic discretionary spending which would include things like building highways, keeping federal prisons open, providing pell grants to college students, giving children from poor families early childhood education, putting money at the national institutes of health for madam chair research. that's one section of the budget. it comprises 12% of our budget. in the last ten years that part of our budget has gone up zero percent. no increase in spending in that section. most of our spending goes into the military, 84% increase over ten years, and mandatory programs, 32% over ten years. the bigge
that it needs that is a small percentage for wasting infrastructure in afghanistan. the notion that the cftc that the 80 or $90 billion more that we need can't be done because of the deficit that people spent in $147 billion so we can keep subsidizing american farmers is nonsense. similarly with the fcc they want to turn in. they will bring in more money to the system than it will be given to run it. that's one effect. in fact, what you have running here is a catch 22. first, deny the fcc and cftc adequate funding. they in turn are not able to deal with the rulemaking requirements that they have. then because we haven't been able to move as quickly, that's something they have imposed. obviously, you want the fcc and cftc to have smart people and information technology. i have to say i do not see it coming from the financial institutions. many of them recognize while you may not like the rules, if you've got the rules, you want them well run. this is coming from the republican party who just believe despite all of the evidence to the contrary that an unregulated free market works. you saw thi
a war of necessity in afghanistan, keeping us there far longer than necessary, at an additional cost of $430 billion, unpaid for. a total cost for both wars, unpaid for, of $1.2 trillion. the republican party that will not now agree to one penny in revenue and demands only more spending cuts has fought to make tax breaks for the wealthy permanent that would cost this nation another $5 trillion. their favorite big business in wall street and a tax code that has resulted in major multibillion-dollar corporations paying no taxes -- yes, no taxes at all. in fact, a detailed government accountability office study of corporate income taxes from 1998-2005 showed that 55% of large u.s. corporations reported no, no tax liability for at least one of those eight years. yet, those same republicans will look us in the eye in defense of their defenseless position and tell us that most individuals do not pay taxes either. what they will not say is that those individuals who do not pay taxes do not pay taxes for a reason. they do not earn enough to pay income tax, and many of them are among the poor
be directly affected by a government default. paychecks for soldiers, in afghanistan and iraq and at bases around the world conceivably wouldn't go out. f.a.a. towers could shut down. border crossings could close. operations at the f.b.i. and the c.i.a. would be put at risk. safety inspections of the food that we eat and the cargo that enters our ports could halt. and the resulting spike in interest rates would ironically make our debt even harder to tackle because each 1% rise in interest rates alone would result in $130 billion in increased interest payments on our national debt each year. perhaps, most importantly, hard-working american families would also feel the crunch. a spike in interest rates would effectively force a tax on all americans and american businesses due to increased consumer costs. just as important, failure to raise the debt limit would lock up credit markets because the u.s. would no longer be seen as a reliable credit risk. coincidentally, mr. president, yesterday an important consumer protection law which senator lugar and i introduced and passed and you helped us
spending at all levels, including the military, as we bring our troops home from afghanistan. and, yes, it needs to look at the money that we spend through our tax code -- and we've talked about this over and over again. we need to have a balanced approach, a credible approach to manage our debt. and that should be our first option. but under no circumstances should we allow america to default on its obligations, causing harm to every american family. i urge-colleagues to put the national -- i urge my colleagues to put the national interests first, to take off the table the default on our debt, take that off the table, let's put the national interest first, work together to bring about a credible plan to manage our national debt. and with that, mr. president, i would yield the floor and suggest the an -- before i do that, i would suggest the absence of a quorum. the presiding officer: the clerk will call the roll. quorum call:
and afghanistan, saving $1 trillion in the process. our troops in the middle east deserve our admiration and praise for so successfully carrying out their missions. we must, however, continue to press for a strategy that will bring our troops home as soon as we safely can. the reid deficit plan would find an additional $40 billion in savings by cutting fraud and abuse in tax compliance and a number of non-defense federal programs and $60 billion in other savings, including cutting unnecessary spending on agricultural subsidies and auctioning off electromagnetic spectrum that the government currently holds. finally, by cutting the government by over $2 trillion, we'll have to borrow less money than anticipated and that will save an additional $400 million -- sorry, $400 billion in projected interest costs. in total, the senate democratic plan on which we will vote would cut the deficits by $2.7 trillion over the next ten years. while senator reid's proposal would not address the tax gimmicks and loopholes throughout our tax code that help favor the well-connected, this omission does not m
of ours in afghanistan and in other trouble spots across the globe. that's personally important to me because 100 years ago this year my grandfather immigrated from crow shay to this country, john begich. then it was spelled p-e-c-g-i-c. he left his farmer and eventually settled in northern minnesota in the iron range. he and his young bride anna had four children, their youngest nikolas, made his way to america's new frontier, alaska, even before we were a staivment he was my father. nick was an educator and eventually was elected alaska's lone member of the united states house of representatives in 1970. i'm honored to follow in his footsteps as a member of the senate, where i'm the only member of croatian dissent. my recent visit was my first to croatia. i was honored to represent the body at the summit along with officials from the state department and u.s. embassy. i was impressed by the great progress under way there as well as the excellent job being performed by our embassy personnel. there are enormous opportunities for partnership between the united states and croatia and i
Search Results 0 to 7 of about 8